Mr Fluffy Homes & the NSW Voluntary Purchase and Demolition Program
The NSW Government, like the ACT, is implementing a voluntary scheme to address the issue of loose fill asbestos in NSW homes. Its program however offers affected home owners two options to choose from. They are set out below.
- The NSW Government will offer to purchase the premises and the land at market value (as if the property was free of loose fill asbestos). The NSW Government will then demolish the premises, remediate the land, and sell the property on the open market.
- Alternatively, the NSW Government will offer to purchase the building only, at market value (as if the premises were free of loose fill asbestos), with the affected home owner retaining ownership of the land. The NSW Government will then be responsible for demolishing the premises and remediating the block of land. The owner can then rebuild on that same block of land using the funds from the buyback to help fund the costs of construction.
To be eligible for the Voluntary Purchase and Demolition Program, affected home owners must be registered for the NSW Government’s Free Testing Program by 1 August 2016.
The Free Testing Program is available to all homes located within the 28 identified Local Government Areas. Owners of properties outside of the 28 identified Local Government Areas can have their property privately tested by a Licensed Asbestos Assessor. In the event that loose fill asbestos is located within the home, the cost of the testing will be refunded, and the home owners will become eligible for the Program.
In addition to the Program, the NSW Government is providing other forms of assistance to affected home owners. This includes relocation assistance, a stamp duty concession and funds for independent legal advice, amongst others. Further information on all types of assistance being offered can be found here.
If you or somebody you know would like further information on the NSW Program, please contact Tetlow Legal on 02 6140 3263 or [email protected].